Covestro AG (OTCMKTS:COVTY) Short Interest Update

Covestro AG (OTCMKTS:COVTY) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 900 shares, a decrease of 89.7% from the October 31st total of 8,700 shares. Based on an average daily volume of 26,300 shares, the days-to-cover ratio is currently 0.0 days.

Covestro Price Performance

OTCMKTS:COVTY traded up $0.20 during trading hours on Wednesday, reaching $30.28. 12,445 shares of the company traded hands, compared to its average volume of 25,508. The stock has a market cap of $11.45 billion, a P/E ratio of -40.65 and a beta of 1.18. Covestro has a 1-year low of $24.12 and a 1-year high of $32.60. The firm’s 50-day moving average is $31.08 and its 200-day moving average is $29.61.

Covestro (OTCMKTS:COVTY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter. The business had revenue of $3.96 billion during the quarter. As a group, research analysts predict that Covestro will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COVTY. Citigroup upgraded Covestro to a “hold” rating in a report on Thursday, October 3rd. Barclays raised Covestro to a “hold” rating in a report on Wednesday, October 9th.

About Covestro

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.